American Healthcare REIT Announces Pricing of Upsized Primary Public Offering of Common Stock
American Healthcare REIT (NYSE: AHR) has priced an upsized public offering of 17,400,000 shares of common stock at $23.55 per share. The company has granted underwriters a 30-day option to purchase up to an additional 2,610,000 shares. Net proceeds will be used to acquire the remaining 24% minority interest in Trilogy Holdings, and to repay debt on existing credit lines. The offering is expected to close on September 20, 2024. BofA Securities, Morgan Stanley, and KeyBanc Capital Markets are acting as joint book-running managers, with several other firms in supporting roles. The offering is being made pursuant to the company's effective shelf registration statement filed with the SEC.
American Healthcare REIT (NYSE: AHR) ha prezzato un'offerta pubblica aumentata di 17.400.000 azioni ordinarie a 23,55 $ per azione. L'azienda ha concesso agli underwriter un'opzione di 30 giorni per acquistare fino a ulteriori 2.610.000 azioni. I proventi netti saranno utilizzati per acquisire il restante 24% di interesse minoritario in Trilogy Holdings e per rimborsare debiti su linee di credito esistenti. Si prevede che l'offerta si chiuderà il 20 settembre 2024. BofA Securities, Morgan Stanley e KeyBanc Capital Markets stanno agendo come co-manager principali, con diverse altre aziende in ruoli di supporto. L'offerta è effettuata ai sensi della dichiarazione di registrazione effettiva dell'azienda presentata alla SEC.
American Healthcare REIT (NYSE: AHR) ha fijado una oferta pública aumentada de 17,400,000 acciones comunes a $23.55 por acción. La compañía ha otorgado a los suscriptores una opción de 30 días para comprar hasta 2,610,000 acciones adicionales. Los ingresos netos se utilizarán para adquirir el 24% restante de interés minoritario en Trilogy Holdings y para pagar deudas sobre líneas de crédito existentes. Se espera que la oferta cierre el 20 de septiembre de 2024. BofA Securities, Morgan Stanley y KeyBanc Capital Markets están actuando como co-gerentes principales, con varias otras firmas en roles de apoyo. La oferta se realiza según la declaración de registro efectiva presentada por la empresa ante la SEC.
American Healthcare REIT (NYSE: AHR)은 17,400,000주의 공모가를 증가시켰습니다 주당 $23.55로 가격을 책정했습니다. 회사는 인수자에게 추가로 2,610,000주를 구매할 수 있는 30일 옵션을 부여했습니다. 순수익은 Trilogy Holdings의 나머지 24% 소수 지분을 인수하는데 사용될 것입니다 및 기존 신용 라인에 대한 부채를 상환하는 데 사용될 것입니다. 이번 공모는 2024년 9월 20일에 종료될 것으로 예상됩니다. BofA Securities, Morgan Stanley 및 KeyBanc Capital Markets는 공동 주관사로 활동하고 있으며 여러 다른 회사가 지원 역할을 하고 있습니다. 이번 공모는 SEC에 제출된 회사의 유효한 선등록 명세서에 따라 이루어집니다.
American Healthcare REIT (NYSE: AHR) a établi une offre publique augmentée de 17 400 000 actions ordinaires au prix de 23,55 $ par action. La société a accordé aux souscripteurs une option de 30 jours pour acheter jusqu'à 2 610 000 actions supplémentaires. Les produits nets seront utilisés pour acquérir les 24 % restants d'intérêts minoritaires dans Trilogy Holdings et pour rembourser des dettes sur des lignes de crédit existantes. La clôture de l'offre est prévue pour le 20 septembre 2024. BofA Securities, Morgan Stanley et KeyBanc Capital Markets agissent en tant que co-gérants principaux, avec plusieurs autres entreprises dans des rôles de soutien. L'offre est faite conformément à la déclaration d'enregistrement efficace déposée par la société auprès de la SEC.
American Healthcare REIT (NYSE: AHR) hat eine erhöhte öffentliche Angebot von 17.400.000 Stammaktien zu 23,55 $ pro Aktie festgesetzt. Das Unternehmen hat den Underwritern eine 30-tägige Option eingeräumt, um bis zu 2.610.000 zusätzliche Aktien zu erwerben. Die Nettoerlöse werden verwendet, um die verbleibenden 24% Minderheitsbeteiligung an Trilogy Holdings zu erwerben und um Schulden aus bestehenden Kreditlinien zu tilgen. Das Angebot soll am 20. September 2024 abgeschlossen werden. BofA Securities, Morgan Stanley und KeyBanc Capital Markets agieren als gemeinsame Buchmanager, mit mehreren anderen Firmen in unterstützenden Rollen. Das Angebot erfolgt gemäß der wirksamen Shelf-Registrierungsanmeldung des Unternehmens, die bei der SEC eingereicht wurde.
- Upsized public offering of 17,400,000 shares at $23.55 per share
- Option for underwriters to purchase additional 2,610,000 shares
- Proceeds to be used for strategic acquisition and debt repayment
- Strong lineup of reputable financial institutions as underwriters
- Potential dilution of existing shareholders' equity
- Increased debt repayment may impact short-term financial flexibility
The upsized public offering of 17.4 million shares at
The planned use of proceeds to buy out the joint venture partner's stake in Trilogy Holdings, is strategically sound, potentially simplifying the company's structure and increasing its control over assets. Debt repayment is also prudent, likely improving the balance sheet. However, investors should note the dilutive effect on existing shareholders, which could impact earnings per share in the short term.
This offering marks a pivotal moment for American Healthcare REIT, potentially transforming its capital structure and market position. The pricing at
The move to acquire the remaining
The timing of this offering is intriguing, given the current market conditions and interest rate environment. REITs have faced challenges due to rising rates, but healthcare REITs often show resilience due to the essential nature of their properties. The strong underwriter lineup, including major banks, suggests confidence in the offering's success.
Investors should consider how this capital raise positions American Healthcare REIT in the competitive landscape. The ability to reduce debt and consolidate ownership could enhance its market position. However, it's important to monitor how efficiently the company deploys this capital and whether it translates into improved operational performance and shareholder returns in the coming quarters.
The Company expects to use the net proceeds from the offering to exercise its option to purchase its joint venture partner's
BofA Securities, Morgan Stanley and KeyBanc Capital Markets are acting as the joint book-running managers of the offering. Citigroup, RBC Capital Markets, Truist Securities and Barclays are acting as the book-running managers of the offering. Citizens JMP, Fifth Third Securities, Regions Securities LLC and Credit Agricole CIB are acting as co-managers of the offering.
The offering of the common stock is being made pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). A prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. When available, a copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street,
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About American Healthcare REIT, Inc.
American Healthcare REIT, Inc. is a self-managed REIT that acquires, owns and operates a diversified portfolio of clinical healthcare real estate properties, focusing primarily on outpatient medical buildings, senior housing, skilled nursing facilities and other healthcare-related facilities. Its properties are located in
Forward-Looking Statements
Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in those acts. Such forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "can," "expect," "intend," "anticipate," "estimate," "believe," "continue," "possible," "initiatives," "focus," "seek," "objective," "goal," "strategy," "plan," "potential," "potentially," "preparing," "projected," "future," "long-term," "once," "should," "could," "would," "might," "uncertainty" or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Any such forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which the Company operates, and beliefs of, and assumptions made by, the Company's management and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied therein, including, without limitation, risks disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and other periodic reports filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statements contained in this release.
Contact: | Alan Peterson |
VP, Investor Relations & Finance | |
(949) 270-9200 | |
investorrelations@ahcreit.com |
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SOURCE American Healthcare REIT, Inc.
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